Kingspan acquires US firm for €75m

Kingspan today announced it has completed the acquisition of American company Metecno, Inc., a global manufacturer of composite sandwich panels in a deal worth $111m (€75m).

Metecno is the second largest manufacturer of composite sandwich panels in the US market, operating from three sites located in Florida, Ohio and California. Metecno also comprises a leading architectural metal wall and roof panel profile business, operating under the Morin brand, from two sites in Connecticut and California.

The acquisition gives Kingspan critical mass in the United States, and when combined with existing Canadian market leadership, gives unrivalled geographical market reach in North America at a time when demand for insulation products is expected to increase due to economic and regulatory pressures.

Kingspan CEO, Gene Murtagh said: “The acquisition of Metecno represents an excellent opportunity for Kingspan to assume a market leading position in one of the largest construction markets in the world. Kingspan’s North American panel business now has six major facilities capable of serving the entire continent and significant available capacity in each.”